Tortilla Market competition to grow in forecast period due to foray of more players

Pune, India - August 17, 2018 /MarketersMedia/ — Tortilla is a form of baked bread which is majorly prepared from corn and wheat and consumed mostly in Spain and Mexico. The use of corn in the preparation of tortilla enhances its nutritional value as corn is a rich source of proteins, vitamins and minerals. Vitamin B controls the vital metabolism of cell. The process of production of tortilla from corn involves the soaking of corn in the limewater and this process helps in the availability of Vitamin B after its consumption. Tortilla has potential application as bread replacer as it is found to be more nutritious. It is consumed as snacks in the form of ready-to-eat baked chips and tortilla shells. It has multi-purpose application in preparation of various food dishes.

Tortilla chips have gained their popularity as a potential snack and as an alcohol accompaniment. Tortilla chips are found to have become staple snack for consumers in various regions based on the unique formulation and flavor of the product. Strong performance of the retail sector and product promotions have played a vital role in increasing the sale of tortilla via supermarkets/hypermarkets and specialty stores. More than 50% sales of tortilla chips were observed to have been accomplished through supermarkets and grocery stores. Healthier varieties available in tortilla chips such as whole-grain corn tortilla chips have increased the demand even more. Tortilla chips are hence also considered as the most popular dip chip based on the ‘better-for-you’ dip chip property.

Regional Analysis:
The Global Tortilla market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America region is accounting for 59.24% market proportion in the year of 2017 in the global Tortilla market and it is estimated to retain its dominance throughout the forecast period of 2017-2023. The growth of the North America region is expected to be driven by the increasing consumption of tortilla both in U.S. and Mexico. Moreover, tortilla has been invented in Mexico. Also, the key manufacturers of tortilla are located in North America region which in turn escalates the sales of tortilla. However, Latin America region is projected to expand at a substantial growth rate of 5.07% during the forecast period of 2017-2023.

Segments:
Tortilla market has been segmented on the basis of type of tortilla mix, pre-cooked tortilla, frozen tortilla, tortilla chips and others. On the basis of source, market is segmented into corn, wheat and others. On basis of claim, market is segmented into gluten free, low carb and others. On basis of distribution channel, the market is segmented into store based and non-store based

Key Findings:
• Gluten free tortilla is expected to upsurge in the North & Latin America region due to the increasing celiac disease patient
• In the Asia Pacific region, low carb tortilla is anticipated to enhance at a high pace due to the rising incidence of obesity, diabetes and other diagnosed food intolerance

Regional and Country Analysis of Tortilla Market Development and Demand Forecast to 2023 Market:
As per the MRFR analysis, the global tortilla market is poised to reach USD 48.51 Billion in 2023, to grow at a CAGR of 5.10% during the forecasted period.